New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-22
MONEY IND BESINESS.

The arrival of $4,000 gold and the GER
tainty that over 81, 100000 more is on its
way from Europe. the reported sale abroad of
blocks of stocks by Mr.. Gould and others, the
purchase of 81, 100000 bonds by the Treasury
and the offer Of more within reasonable limits
and the prepayment of interest, had quito an
encouraging influence upon the money market
last week. Yet Saturdays official statement
shows that the Treasury held 81, 100000 moro
gold and 81 100000 more legal tenders than
n week before. whilo it holds only 100000
less silver. Reports and hopes OF monetary
relief from the Treasury have to be tested by
the final fact that, after bond purchases and
proponents Of interest and other anticipa-
tions of payment have been made, the Treas
ury actually has outstanding, August 20,
81, 100000 less gold certificates than it had
August /, and only 81 800 900 moro silver
certificates, while holding 100000 moro
gold, 100000 more silver and S500,0Ou
more legal tenders. Payment Of pensions Is
expected 10 take out some more money this
month, and the Secretary has power 70 pur-
chase more bonds, but when bonds held on
speculation have been cleared away the Offers
TO the Treasury may not be large, and the
~
of much avail.
The one resource which may be in volume
adequate 10 any needs, the movement Of
money from Europe, depends just now wholly
on sales Of securities. Our foreign trade is
not such as 10 prevent an outgo Of gold. In
three weeks imports from Ncw-York have
been $30,215, 9S7, against $25,599, 1863 laso
year, all increase OF Is per cent, while exports
from this port have been but SIS, 696, 0l9,
against SIS, 456, 46S, an increase Of IL per
cent. Tho July statement just made shows
decrease Of SO, 414,G5 in exports from last
year, and an excess Of imports over exports of
$7,11O, $50, which follows an excess Of
S44 100000 in April May and June. With
usual allowance for undervaluations, interest,
freight money, etc. the four months seem
TO have created an indebtedness Of $91 100000
TO foreigners less the net value Of securities
purchased on foreign account and investments
made in this country. While those invest
mcnts and purchases continue, the country
can draw upon practically unlimited supply
Of foreign capital But the illness Of the
Emperor William, the threatened occupation
of Bulgaria, or either of several other con-
ceivable events might cut off this source Of
supply, or even call back money from Ameri
can investments.
In this situation tho fact that the banks
lost 81 5000 last week, the movement to
the interior reported by 1.-The Financial
Chronicle having been 81 2S300O, explains
the lack Of funds for time loans which affects
somo merchants in legitimate business &C
verely. There is money enough TO loan on
CALL with stock collatcrals, the demand just
now being not remarkably active. Stocks
failed 10 sustain the promise of last Saturday
and declined a shade for the week, hopes de-
fcrred and fears of important embarraSsments
having their natural effect. Wheat specula-
ton stagnates with a loss of one cent for the
week, the California speculation remaining I'M
settled, while the British yield promises 20
to "a million bushels more than last year,
Corn and oats rose fraction, cotton closed as
it opened, while cofrco lost half cent and
oil ga cents. Iron markets arc weakened in
tone by increasing output, and sale of 5000
tons steel rails at price equivalent to $37
at mill leads TO the remark that failure of
some companies TO sell securities has of latn
checked the demand for railroad supplies.
The dry goods trade looks more conGdest.
especially in its woollen branch, which has SO